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BASF and Heraeus form joint venture in China to provide world-class platinum group precious metals recycling solutions

 Last Update: 2022-03-07
 Source: Internet
 Author: User

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[ Chemical Machinery Equipment Network Star Enterprise ] BASF and Heraeus have agreed to form a joint venture (BASF: 50%; Heraeus: 50%) to recover platinum group precious metals from spent catalysts in China's high-tech industries to achieve a circular economy solution
.
The new company will be named BASF Heraeus (China) Metal Resources Co.
, Ltd.
and will be established in Pinghu City, China
.

Chemical Machinery Equipment Net Star Enterprise Chemical Machinery Equipment

The legal entity will be established in early 2022, subject to approval from the relevant authorities
.
The factory facility will also be put into construction in Pinghu City, with construction scheduled to start in 2022 and operations to begin at the end of 2023
.
The new factory will contribute to local economic development, creating about 100 new jobs
.

The joint venture will recycle platinum group precious metals from used autocatalysts to realize circular economy solutions and meet the demand of Chinese high-tech enterprises for precious metal raw materials

　　Platinum group precious metals (PGMs), which mainly include platinum, palladium and rhodium, have limited natural resources in China and are heavily dependent on imports
.
These precious metals are often used to make new products in industries such as automotive, chemical, electronics and green hydrogen
.
A circular economy can be achieved by recycling scrap materials, such as scrap automotive catalytic converters, to recover platinum group metals
.

　　In addition, recycled precious metals are very environmentally friendly and can reduce CO2 emissions by up to 90% compared to mined metals
.
Therefore, ensuring the local supply of recycled precious metals in China can help drive sustainable development in the future
.

　　Tim Ingle

　　Vice President, Precious Metals Refining, Chemicals & Battery Recycling, BASF

　　Through our cooperation with Heraeus, we will provide state-of-the-art pyro-purification technology for the recovery of precious metals from spent catalysts in China, and help high-tech companies and other companies that use precious metals to improve resource utilization
.
With BASF's position in autocatalyst recycling and comprehensive expertise in precious metals, we will provide customers with circular economy solutions for the reuse of precious metals in China
.

　　Marius Vigener

　　Vice President Chemicals Business Unit Heraeus Precious Metals

　　We established this joint venture based on our strong foundation in China's wet chemical recycling industry
.
Recycled precious metals minimize carbon emissions, allowing our customers to reduce their carbon footprint
.
This contributes to the development of China's circular economy and also makes a significant contribution to the stable supply of the local precious metal market
.

Original title: BASF and Heraeus form joint venture in China to provide world-class platinum group precious metals recycling solutions

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